Canoe Brook Development (CBD) is a New Jersey-based apartment development company founded by Marshall Tycher and Carl Goldberg. CBD currently has ownership interests in eight operating projects with more than 1,700 units and totaling $825 million in costs. Eleven additional projects, comprising 2,800 units and over $1.2 billion in costs, are currently in active development or under construction.
Canoe Brook Development principals are fully dedicated to the strategy of developing highly amenitized multifamily products in the most sought-after suburban locations, where they often achieve the highest rents in their submarkets. In 1992, Marshall and Carl partnered with Bradford Klatt in the formation of Roseland Property Company, a premier residential development company responsible for 10,000 units and $3 billion in costs supported with the financial backing of major institutions. In 2012, Roseland and its management team were acquired by Mack-Cali, a public office REIT preparing to launch its own residential platform and where Marshall acted as Executive Chairman. During this tenure, Marshall oversaw the development of an additional 3,000 units across eleven projects. The Canoe Brook Development team has over forty years of experience in the multifamily industry and has extensive familiarity with the complexities of local zoning and entitlement processes. CBD is built on the ability to choose and design optimal product types for specific locations throughout New Jersey and the Northeast Corridor.
Canoe Brook is a distinguished leader in developing Class A mixed-use and mid to high rise apartments in the NYC / Northern NJ area.
Canoe Brook projects typically have a superior asset quality, design, unit layouts and resort-style amenities, with locations in prime, high barrier-to-entry neighborhoods. They typically command the top rents in their submarkets regardless of age or locations of other competing projects — current Canoe Brook rents are on average 20% higher than their comp sets. A prime example of the Canoe Brook principals’ market insight and capability is Port Imperial, a $4 billion master-planned mixed-use development along the Hudson River across from Manhattan that was previously 200 acres of contaminated land.
Canoe Brook Development has access to propriety deal flow leading to a consistently sizable investment pipeline.
The vast majority of deals at CBD are sourced through off-market channels built from long-standing industry relationships. CBD also partners with some of the most prominent private regional developers as a co-sponsor, facilitating this deal-sourcing and expanding the pool of potential projects. Canoe Brook Development has a combined pipeline totaling $1.1 billion in total capitalization.
Canoe Brook boasts decades of expertise in choosing appropriate product type, scouting optimal locations and navigating regulatory approval processes.
Canoe Brook has extensive development experience across a wide array of residential products including: 40+ story, high-rise luxury urban apartments, mid-rise garden style apartments and townhomes. Intimate familiarity with the towns and locales of target markets helps optimize the exact locations and product types developed. The company has cultivated deep relationships with local, state and federal agencies, which facilitate zoning and entitlement approval processes.
